Somerville Bank & Trust Co.
Somerville Bank & Trust Company was founded by S. H. Shaw in 1910. Dr. Thomas Bragg Yancey was the bank's first president and earned a salary of $100.00 per month. In 1912, J.T. Rhea was elected president, followed by Dr. C.W. Robertson in 1915, and W. M. Mayo in 1920. In 1927, Dr. C.W. Robertson was elected again. In 1929, H.P. Stainback was named president followed by Dr. John W. Morris in 1944. Paul Barret became president in 1949; and in 1964, William B. Wilkinson, a long-time bank executive, was named president. In 1968, James H. Shelton was named president and today serves as President and CEO.
Located in the historic downtown district of Somerville, Tennessee, the Somerville Bank & Trust Company building was constructed in 1895 and is of the Victorian Romanesque influence. It is a two story (the third story having been removed in 1957) brick and cut stone building with a round arched entrance, supported by polished pink marble columns. It originally housed The Fayette County Bank and in 1930 the structure was purchased by SB&T Co. for $7,500.00. The old bank building withstood the reverses and times of the 1920's leading to the Great Depression and a fire that destroyed the courthouse and several buildings on the square.
The interior of the older part of the building still has the oak woodwork and is colonial in design. Throughout the years, several additions have been added which include offices, work spaces, a large community room, gardens and wrought iron fencing.
Staff & Locations
As of April,1998, Somerville Bank & Trust Company employees a staff of 51 and has assets of $155 million. It serves Fayette County and the surrounding area with 5 convenient locations, 3 ATM machines, 24 hour telephone banking and Saturday banking.
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